On June 10, Broadcom fell 3.08% in pre-market trading, trading at $380.725/share, with trading volume of approximately $83.38 million. The stock continues to face selling pressure following its fiscal Q2 earnings report released on June 3, which triggered a broad semiconductor selloff.
Broadcom reported Q2 AI revenue of $10.8 billion and total revenue of $22.19 billion, both beating estimates. However, the company's Q3 AI semiconductor revenue guidance of $16 billion came in below the analyst consensus of approximately $17.2 billion. More critically, CEO Hock Tan declined to raise the fiscal 2027 AI revenue target beyond the previously stated \"over $100 billion,\" disappointing investors who had priced in accelerating growth. Since the earnings release, Broadcom's market capitalization has declined by over $280 billion, and the stock has struggled to sustain recovery attempts.
Within the Semiconductor sector, the overall sector is broadly lower. Among individual stocks, Micron Technology down 3.14%, NVIDIA down 1.94%, Intel down 1.78%, Advanced Micro Devices down 1.5%, Marvell Technology down 1.2%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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